Thai to Indonesian stocks falling most since 2001 - Stocks in Southeast Asia are tumbling at their fastest pace in 12-years relative to global equities, sending the regional benchmark index into a bear market for a third month in a row. The MSCI Southeast Asia Index has dropped 11% this month and is down a massive 21% from this year's peak in May. The gauge's August retreat is 9.1 percentage points bigger than that of the MSCI All-Country World Index, the widest gap since 2001. Foreign investors have sold a net $2.2 billion of Thai, Indonesian and Philippine shares this month amid signs of slowing growth and speculation that the Fed will soon cut stimulus. Investors have a mentality of take money out first, ask questions later. We are not entering the market in the near future, says David Poh, regional head at Societe Generale's private bank.
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